How does money solve the problem …

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How does money solve the problem of double coincidence of wants ?? Explain with example ??

Posted by Anshika / U Can Call Me Alien ????? 6 years, 11 months ago

CBSE > Class 10 > Social Science

3 answers

Anurag Sharma 6 years, 11 months ago

Use of money overcomes the drawbacks of barter system of exchange in the following manner: (i) With the introduction of money, double coincidence of wants is no longer needed. (ii) Money facilitates storage of value which is difficult in barter system. (iii) Money facilitates satisfaction of wants even in smaller units which is not possible in barter system. (iv) Money serve as a medium of exchange. Accordingly, scope of exchange has greatly widened.

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Honey ??? 6 years, 11 months ago

Suppose i want the thing u have and u want the thing that i have .so here we could money as the common source by which i and you could get their things without any ......

1Thank You

Honey ??? 6 years, 11 months ago

Money acts as a medium of exchange

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